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Shares in French retail giant Carrefour have a very low valuation and represent a good long-term investment opportunity thanks to recent management changes and growth in markets outside France, Scott Evans, co-head of equity research at Espirito Santo Investment Bank, told CNBC.

Money managers and analysts warn of tough times ahead as ongoing concerns about the euro zone debt crisis, high oil prices, and a slowdown in China threaten to bring the recent risk rally to a halt, but one analyst says Latin America is an area that may still prove profitable.

The S&P 500 is likely to retreat to 1,330 as sluggish domestic growth, high oil prices and Europe’s debt woes take their toll on US stocks, according to Kevin Cook, senior stock strategist at Zacks.com.

China’s steelmakers will see a rebound this year thanks to weakening iron ore prices and potential policy easing in the property sector, Helen Lau, senior analyst metals and mining at UOB Kay Hian in Hong Kong, told CNBC on Wednesday.

Investors should start scaling back risk in their portfolio in anticipation of more favorable buying opportunities in the coming weeks, Chris Watling, CEO and chief market strategist at Longview Economics, told CNBC on Tuesday.